Cloud computing is one of the services that are delivered over internet for transmission and access to user data at anytime from anywhere. In spite of numerous advantages provided with cloud computing, it is important to recognize the potential threats, including loss of user data, when disregarded. In scope of the study, it is aimed to raise public awareness on cloud computing by investigating security and privacy issues related to user data stored on remote servers based on the questions like “Who is the owner of the data?”, “Who is responsible for protection of the data?”, “Is it possible to compensate for the data loss?”, in the current cloud computing systems and literature review. In addition to the pros and cons of cloud computing; the current law of United States and all directives and agreements in European Union are examined in order to draw attention to all legal